BRASILIA (dpa-AFX) - Distribution and outsourcing Group Bunzl plc (BZLFY.PK, BNZL.L) announced Monday that it has now completed the acquisition of ICM, a Denmark-based distributor of personal protection equipment to customers, mainly operating in the wind energy sector. ICM generated revenue in 2019 of around 49 million pounds.
Further, the company said it has recently entered into an agreement to purchase SP Equipamentos, a Brazilian personal protection equipment distributor. Completion of the acquisition is expected to take place at the end of November.
Sao Paulo-based SP Equipamentos, with revenue in 2019 of around 22 million pounds, supplies safety products across a number of markets, including the mining, steel, construction and agriculture sectors.
Frank van Zanten, Chief Executive Officer of Bunzl, said, 'These two acquisitions will further expand and develop our safety businesses in Brazil and Denmark, complementing our product offering and broadening our customer base in both markets. Growth through acquisitions continues to be an important part of the strategy of the Group..'
For the year-to-date period, the company has committed acquisition spend totaling more than 400 million pounds.
The company added that a number of discussions regarding further acquisitions are ongoing.
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